Charitable Giving Exceeds Pre-Recession Levels
Now, this is the kind of news I like to see. Charitable giving from all sources was $358 billion in 2014, the highest amount since its 2007 peak. Fifty four percent of the year over year growth from 2013 was driven by individuals. See, we don’t all have to be Bill and Melinda Gates to make a difference in our communities.
Americans are among the most generous citizens in the world, with charitable donations currently about 2.1% of gross domestic product. As an affluent nation, can we do more? Probably. According to the 2012 World Giving Index (which takes into account monetary donations, volunteering time, and helping a stranger), the US ranks 5th on its index score. Who is doing better? Australia, Ireland, Canada, and New Zealand.
Talking to your financial adviser, estate planning attorney, and children about your charitable intent is important. Planned giving throughout life and after you passing will give you great joy and allow you to demonstrate your values to the next generation.
Charitable Giving Rises Past Pre-Recession Mark by Diane Cardwell, New York Times, June 16, 2015, http://www.nytimes.com/2015/06/16/business/charitable-giving-rises-past-prerecession-mark.html?_r=0
World Giving Index 2012, Charities Aid Foundation, December 2012, http://www.cafamerica.org/wp-content/uploads/WorldGivingIndex2012WEB.pdf
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